Our Mutual Fund Overlap Tracker is designed to look deep inside your mutual fund holdings, consolidates them, and tells you exactly where you have duplicate stock exposure.

While the tool is built to be fast and intuitive, understanding every chart, metric, and table will help you make highly informed adjustments to your portfolio. In this step-by-step guide, we’ll walk you through how to use the tool and how to interpret every response.

Step 1: Selecting Your Funds

When you arrive on the landing page, the first section you’ll see is the Overlap Checker.

  1. Search for Schemes: Click inside the input search box and type the name of the mutual fund you own (e.g., “Parag Parikh Flexi Cap” or “SBI Bluechip”).
  2. Add to Analysis: A list of matching funds will appear. Select your fund from the dropdown. It will be added as a card in your selected list.
  3. Add Up to 5 Funds: You can compare anywhere from 2 to 5 funds at the same time.

💡 Note for Regular Plan Investors: Direct and Regular plans of any mutual fund hold the 100% identical portfolio of underlying stocks and weights. Selecting the Direct Plan equivalent gives you the exact stock overlap analysis for your Regular plan holdings.

Step 2: Choosing Your Input Mode (Percentage vs. Investment Amount)

Once you’ve selected your funds, you need to set their relative weight or value in your portfolio. This is crucial because a 10% allocation in a fund impacts your consolidated risk differently than a 50% allocation.

The tracker provides two tabs to input this data:

Tab A: By Percentage (%)

This is the default mode. It allows you to specify the proportion of each fund relative to the whole portfolio.

  • Equal Weight (Default): By default, the tool distributes your allocation equally across all selected schemes.
  • Adjust Weights (Sliders): Use the slider on each fund card to match your actual asset allocation percentage.
  • Auto-balancing: The tool automatically ensures that your allocations add up to 100% total. Adjusting one slider will proportionally balance the other sliders.

Tab B: By Investment (₹)

Switch to this tab if you want to enter the exact rupee amount you have invested in each mutual fund.

  • Enter Rupee Values: Type in your exact investment amount for each fund card (e.g., ₹60,000 in Fund A and ₹40,000 in Fund B).
  • Automatic Weight Calculation: The tool automatically sums your investments (₹1,00,000 total) and calculates the percentage weight dynamically next to the input box (e.g. 60% and 40%). This eliminates the need to do external math to find your percentage weights.

Once you are satisfied with your allocations, click the Check Overlap button.

Step 3: Understanding the Summary Metrics

Once the calculator completes the intersection math, it will immediately display a row of four summary metrics. Here is what each number tells you:

1. Average Overlap

  • What it is: The average pairwise overlap percentage between all selected funds, weighted by your portfolio allocation.
  • How to read it:
    • Under 20% (Low): Your funds are highly complementary. They are investing in different stocks or market segments.
    • 20% to 50% (Moderate): Common when comparing funds in similar categories (e.g., two large-cap funds). This is generally acceptable but watch out for sector-level concentration.
    • Above 50% (High): High duplication. You are essentially paying double fees for the same underlying holdings.
  • Action: Consider swapping one of the high-overlap funds for a different style (like small-cap or index funds).

2. Total Unique Stocks

  • What it is: The net count of individual company stocks in your consolidated portfolio.
  • How to read it: If you own 4 funds and this number is relatively low (e.g., under 60 stocks), it means your funds are highly concentrated in the same set of companies. Adding more funds did not buy you more diversification; it just created clutter.

3. Overlapping Stocks

  • What it is: The count of individual stocks that are held by more than one of your selected mutual funds.
  • Shortcut: Click on this card to automatically filter the holdings table below to show only overlapping stocks!

4. Effective Number of Stocks (ENS)

  • What it is: Your portfolio’s true level of diversification calculated using Herfindahl-Hirschman Index (HHI) concentration math.
  • How to read it: Even if you own 300 unique stocks, if 80% of your portfolio is in 15 stocks, your ENS might be 25. A lower ENS indicates higher concentration and single-stock vulnerability.

Step 4: Decoding Visual Comparisons & Dashboard Widgets

Below the summary row, you’ll see a set of rich visual analysis widgets:

1. Pairwise Overlap & Venn Diagrams

  • For 2 Funds: An interactive Venn Diagram illustrating shared holdings.
  • For 3-5 Funds: A Pairwise Overlap Matrix identifying exact duplicate pairs (e.g., Fund A vs. Fund B overlap).

2. Concentration Risk Analysis (Top 5 / Top 10 Holdings)

  • Visualizes how much of your total investment is concentrated in your top 5 and top 10 individual stocks.

3. Cost Analysis & Expense Ratio Efficiency

  • Analyzes expense ratio overlap to reveal if you are paying multiple active management fees for identical stock holdings.

4. Market Cap Distribution & Sector Allocation

  • Donut charts displaying your consolidated exposure across Large Cap, Mid Cap, and Small Cap stocks, alongside sector-level allocations.

Step 5: Navigating the Consolidated Holdings Table

At the bottom of the results page is the Consolidated Holdings Table:

  • Interactive Filter Bar: Use the filter buttons (All Holdings, Overlapping Only, Exclusive Holdings) to instantly view specific subsets of your portfolio.
  • Search Filter: Type a company name (e.g., “Reliance”) or sector name into the search bar.
  • Sort Columns: Click any column header to sort by Combined Weight, Stock Name, or individual fund weight.

Requesting Missing Mutual Funds

If an AMC or fund scheme is not in our search database:

  1. Navigate to the /request-fund page.
  2. Enter the AMC name and scheme name.
  3. Our automated pipeline will prioritize scraping and ingesting factsheet data for that scheme.

Ready to Test Your Portfolio?

Now that you know how to read every response, head over to the Mutual Fund Overlap Calculator and plug in your holdings. A quick 3-second check can help you eliminate duplicates, optimize your diversification, and cut down unnecessary management fees!